PFPC Trust Co., a unit of PNC Financial Services Group Inc., says it plans to make custody and securities lending the focus of its overall business strategy. The company has promoted Sam Sparhawk IV to head its custody and securities lending businesses.

Sparhawk has worked for PNC since 1985. Most recently, he was a senior vice president, managing director, of PFPC Trust and a senior manager of PFPC's custody services group.

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